For a recent 2-year period, the balance sheet of Santana Dotson Company showed the following stockholders’ equity data at December 31 (in millions).\n2
For a recent 2-year period, the balance sheet of Santana Dotson Company showed the following stockholders’ equity data at December 31 (in millions).
\r\n2014 2013
\r\nAdditional paid-in capital $ 931 $ 817
\r\nCommon stock 545 540
\r\nRetained earnings 7,167 5,226
\r\nTreasury stock 1,564 918
\r\nTotal stockholders’ equity $7,079 $5,665
\r\nCommon stock shares issued 218 216
\r\nCommon stock shares authorized 500 500
\r\nTreasury stock shares 34 27
\r\nInstructions
\r\n(a) Answer the following questions.
\r\n(1) What is the par value of the common stock?
\r\n(2) What is the cost per share of treasury stock at December 31, 2014, and at December 31, 2013?
\r\n(b) Prepare the stockholders’ equity section at December 31, 2014.